Chesapeake Energy Co. (NASDAQ:CHK) Stake Lowered by American International Group Inc.

American International Group Inc. trimmed its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,605 shares of the company’s stock after selling 8,021 shares during the quarter. American International Group Inc. owned approximately 0.12% of Chesapeake Energy worth $11,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Chesapeake Energy by 2.0% during the third quarter. Vanguard Group Inc. now owns 12,852,961 shares of the company’s stock worth $1,108,311,000 after buying an additional 257,880 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Chesapeake Energy by 5.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,317,920 shares of the company’s stock valued at $332,221,000 after acquiring an additional 213,235 shares during the last quarter. FMR LLC raised its stake in shares of Chesapeake Energy by 4.8% in the 3rd quarter. FMR LLC now owns 2,448,847 shares of the company’s stock valued at $211,164,000 after acquiring an additional 111,294 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chesapeake Energy by 15.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,958,837 shares of the company’s stock worth $150,723,000 after purchasing an additional 265,853 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Chesapeake Energy by 19.3% during the third quarter. Invesco Ltd. now owns 1,315,964 shares of the company’s stock worth $113,476,000 after purchasing an additional 213,039 shares during the period. Institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Trading Down 0.6 %

Shares of CHK stock opened at $84.63 on Tuesday. The company has a market capitalization of $11.09 billion, a P/E ratio of 11.41 and a beta of 0.50. Chesapeake Energy Co. has a 12-month low of $72.84 and a 12-month high of $93.58. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $88.98 and a 200 day moving average price of $83.22.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Tuesday, April 30th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.08). Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $674.99 million. During the same period in the previous year, the firm earned $1.87 earnings per share. Research analysts forecast that Chesapeake Energy Co. will post 0.98 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Thursday, May 16th were given a dividend of $0.715 per share. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 3.38%. Chesapeake Energy’s dividend payout ratio is 31.00%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CHK shares. UBS Group lifted their price target on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Truist Financial decreased their price target on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a report on Friday, April 5th. Barclays initiated coverage on Chesapeake Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 price objective on the stock. Scotiabank upped their price target on Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Jefferies Financial Group lowered their price objective on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $106.67.

About Chesapeake Energy

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.